Prosper® Card 2025 Review: Unsecured Card with High Credit Limits

Prosper® Card Review

The Prosper® Card may not be the jazziest card on the market, but it does give borrowers with limited or mediocre credit a no-deposit option with decent credit limits and low fees. Here’s why we recommend the Prosper® Card:

• High credit limit: The card gives $500–$3,000 in credit upfront, then you’ll automatically be evaluated for a credit line increase in as few as 3 months. Other card issuers wait 6–12 months before considering you for a credit increase, which makes the Prosper® Card stand out.
• Low annual fee: The major downside to this card is that it has an annual fee. This is to be expected with cards for this credit range that don’t require a security deposit. However, the fee is $39, which is notably cheaper than the competition. Additionally, you can get the fee waived your first year when you set up autopay.
• Free cash advances: We don’t recommend relying on credit card cash advances, but they can be a lifesaver in an emergency. Unlike most credit cards, the Prosper® Card doesn’t have any cash advance fees. But beware: the cash advance APR is incredibly high at 33.74% (variable).

What we don’t love about the Prosper® Card is its high APR and lack of rewards. But if you have subpar credit and aren’t willing to pay a deposit, this is one of the best options you can get.

Pros & Cons

Who Is the Prosper® Card Best For?

The Prosper® Card is a good credit card choice for the following types of borrowers:

• Bad-credit borrowers: If you have bad, fair, or limited credit, credit card options are slim. Unfortunately, many issuers who are willing to lend to people with poor credit take advantage of the limited choices and charge steep annual (and even monthly) fees on their credit cards. The Prosper® Card has a thankfully low annual fee of only $39.
• Credit limit purists: If you need credit for credit’s sake, the Prosper® Card is a great option. It’s a straightforward card that doesn’t have any bells and whistles, but grants relatively high credit limits with opportunities for increases.
• ATM frequenters: Although borrowing money from an ATM on credit isn’t recommendable, it may be necessary in a pinch. If you find yourself in need of a credit card cash advance, the Prosper® Card doesn’t charge the usual cash advance fee of 3%–5%.

---

Rates & Fees

Fees

• Annual fee: $39 ($0 for first year after you set up autopay)
• Cash advance fee: None
• Foreign transaction fee: 1%
• Late payment fee: Up to $40

The annual fee for the Prosper® Card is usually $39, but you can get this waived in the first year if you set up autopay for the minimum monthly payments. Notably, the Prosper® Card doesn’t charge a fee for cash advances (getting cash from your credit card through an ATM withdrawal).

The 1% foreign transaction fee is also notably low on the card, as most credit cards charge 3% of the transaction amount when you make purchases with a non-US vendor.

Interest Rates

• Purchase APR: 22.74%–33.74% (variable)
• Cash advance APR: 33.74% (variable)
• Minimum interest charge: $1 (or $0.50 for Maine residents)

If you don’t pay your credit card balance in full each month, you’ll be charged interest. The interest you’ll pay each year depends on your APR (“annual percentage rate”), which will be determined by your creditworthiness.

The APR range on the Prosper® Card is massive, so you can get a really good rate—or a really bad one. Beware that if your credit is on the bad side, you’ll probably get a high APR that will make carrying a balance on the card expensive.

Notably, the Prosper® Card doesn’t have a penalty APR (an increased APR that credit cards often charge if you miss payments).

---

Rewards

Rewards credit cards are rarely available to applicants with poor credit or limited credit histories. However, cards with cashback programs and rewards points do exist for holders of lower credit scores if you’re willing to look for one. However, they’re more commonly found on secured cards for bad credit.

---

Credit Limit

Initially, the Prosper® Card will give you a credit limit of $500–$3,000, with opportunities for credit limit increases. Your account will be reviewed automatically every 3 months to see whether you’re eligible for a credit line increase.

One factor that affects your credit score is a metric called the credit utilization rate. This

measures how much of your available credit you’re using (where a lower proportion is better). If you have a higher credit limit, it’s easier to maintain a good credit utilization rate, which can improve your credit score.

---

Benefits

The Prosper® Card comes with some relatively basic benefits:

---

How to Get a Prosper® Card

Credit Score Required

The Prosper® Card is aimed at borrowers who have less-than-perfect credit scores and want to establish or rebuild credit.

According to some reports online, it’s most suitable for people with a fair credit score. FICO scores of 580 to 670 are considered to be fair, so you may be eligible for the Prosper® Card if your score is within this range.

However, you still may qualify if you have bad credit or no credit at all. Go through the Prosper® Card pre-approval process to see whether you’re likely to be approved before you submit a formal application. The pre-approval check won’t affect your credit score.

How to Apply

You can apply for a Prosper® Card by phone or online:

• By phone: Call (866) 615-6319
• Online: Go to the Prosper® Card website to prequalify and find out whether you’re eligible for an offer (and, if so, what your approximate interest rate and credit line amount will be). This process will often take no more than a couple of minutes and will not impact your credit score.

If you decide to accept a Prosper® Card offer, the issuer says it will do a credit check. This means you’ll get a hard inquiry on your credit report. This type of credit check, which is also known as a hard pull or hard credit check, usually knocks a few points off your credit score.

Note that you must meet the following criteria to be eligible for a Prosper® Card:

• You must be at least 18 years old.
• You must be a US resident living in a state other than Iowa or West Virginia.
• You must have a valid Social Security number.

---

Building Credit With a Prosper® Card

Credit Reporting

The Prosper® Card issuer’s customer service team confirmed that they report card activity to the three major credit bureaus: Experian, Equifax, and TransUnion.

Credit reporting is an important part of building credit, as your credit report is based on the information your lenders send to the credit bureaus.

Tips for Building Credit

You’ll have plenty of opportunities to boost or repair your credit with the Prosper® Card as long as you follow these tips to stay on track:

• Pay all your credit card bills on time: The single most important thing you can do to ensure that the Prosper® Card helps your credit is consistently make at least the minimum required payment each month.
• Maintain a low balance: Never use more than 30% of your available credit line. Ideally, you should keep your balance as low as possible. Doing so will help your credit by keeping your credit utilization rate down.
• Keep your account open: Your Prosper® Card will benefit your credit as long as you keep the account open. To prevent your card issuer from closing your account due to inactivity, use your card at least once every few months.

It’s also a good idea to avoid racking up too much credit card debt. The more you struggle financially, the harder it’ll be to maintain good credit health and pay all your credit card bills.

---

Comparable Cards

To decide whether the Prosper® Card is right for you, take a look at how it measures up against similar cards for subpar credit scores and limited credit.

---

Prosper® Card FAQs

Does the Prosper® Card allow balance transfers?

The Prosper® Card does not allow balance transfers. If you need to consolidate debt onto a single credit card, this is not the right one for you.

Does the Prosper® Card have a grace period?

The Prosper® Card gives a 21-day grace period (beginning on the first day of the new billing cycle). The grace period allows you time to pay your bills in full without racking up any interest charges.

If you pay off your balance in full by the due date, your purchases during the grace period won’t accumulate interest. However, if you carry a balance from previous billing cycles, you’ll have to pay interest on any charges you make to your card during the grace period.

Does the Prosper® Card allow cash advances?

You can take out cash advances with your Prosper® Card at a lower cost than most credit cards.

While many credit cards charge a 3% or 5% fee for cash advances, the Prosper® Card won’t charge cash advance fees as long as you use a Mastercard, Maestro, or Cirrus ATM.

However, the cash advance APR is 33.74% (variable). This means cash advances will garner a lot of interest charges if you don’t pay them off as soon as possible.

What’s the customer service number for the Prosper® Card?

If you have questions about the Prosper® Card, you can call customer service at: (800) 903-4697

For general inquiries and correspondence, you can email [email protected] or write to:

Prosper Funding LLC

221 Main Street

STE 300

San Francisco, CA 94105